It has been a whirlwind of a year for the food and beverage industry. At the onset of the COVID-19 pandemic, some brands saw a surge in sales and had to scramble to increase production to keep up with demand while others were forced into survival mode.
More than eight months have passed, and brands are still figuring out what the best path forward looks like. As if changing consumer preferences weren’t hard enough to keep up with before the pandemic, it’s even more uncertain how consumer purchase habits will evolve as we approach a new season, a new presidential administration, a possible vaccine and anything else the new year brings.
Despite these unprecedented times, it is important innovation doesn’t suffer if brands want to grow long-term. Brands that wait too long to innovate will miss opportunities to be the frontrunner in categories and risk launching “me too” products in an oversaturated market.
Read the full article in Food and Beverage Insider.
